Beware that 20% of fund is NLY and 20% is in AGNC, about 40% or so of the rest is in 10 of the other top 12 holdings. the other 20% of holding are made up of 15 or so other (smaller) REITS.
Pretty good diversification withing this sector. Much better way to play this sector than just investing in 1-4 stocks IMHO. Keep in mind it is a sector play. Rates going up will hurt it. Bad news from NLY or AGNC will (obviously) hurt it. Other than that should be a relatively safe place for money - until rates start back up - then be careful. Buy for the divvy, as stated - not for appreciation. Seems like a good buy under 14, if you can get it under 13.5 - even better - again it's all about the yield!
Still long, got a while back - not the bottom low but better than current prices.
Would I buy now? I think I would sell puts on this and try to get it under $14, or even better under $13.5 if I wanted more - either way (puts or owning it) you get a steady income stream. See if you can get $0.30 for the Oct $14's....
If rates start to go up, watch it carefully. But it appears the Fed wants you to buy dividend producing equities until at least the end of 2014. Maybe longer?
I might buy more on a pullback not related to interest rates.